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FAST GROUP INVESTS IN E-COMMERCE ENABLER

Jun 3, 2021 | Fast in the News

May 19, 2021. Fast Logistics Group, with the support from CVC Capital Partners led the Series B funding round of the Philippines’ top e-commerce enabler Great Deals e-commerce Corporation in raising US$ 30M (P 1.4B) capital.

Steve Sy, Founder & CEO of Great Deals, William Chiongbian II, Group President and CEO of Fast Group, and Javier Infante, Managing Partner of Navegar, along with their management teams and advisors, participated in the signing of definitive agreements.

“The Fast Group sees a lot of synergies with Great Deals in building capability. We are privileged to contribute to the growth of Philippine e-commerce, as it relies heavily on a strong supply chain backbone,” Chiongbian said.

“We are thrilled to be teaming up with Steve and Great Deals, the country’s largest e-Commerce enabler. We envision strategic collaborations between Great Deal’s high-growth e-Commerce solutions and Fast’s leading position in Philippine logistics. This partnership also marks Fast’s first M&A transaction since CVC’s investment less than 6 months ago” said Brice Cu, Managing Director and Head of the Philippines, for CVC Capital Partners. #Ecommerce

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